Automotive Premium Audio System Market to Surpass US$127.6 Million by 2026

Published On : Nov 30, 2018

The global automotive premium audio system market was valued at US$ 98.5 billion in 2017 and is expected to increase to US$ 127.6 billion by 2026, registering a CAGR of 2.7% over the forecast period from 2018 to 2026, according to Automotive Premium Audio System Market Report, by Product Type (6 Disc, 8 Disc, 10 Disc, and 12 Disc), by Application (Passenger Cars and Commercial Vehicles), by Sales Channel Type (Original Equipment Manufacturer and After Market), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) published by Coherent Market Insights.

Rapid growth of the automotive sector, increasing sales of electric cars, and growing preference of consumers for vehicle customization are some of the factors that are expected to significantly impact growth of the global automotive premium audio system market. For instance, according to the IEA International Energy Agency analysis, total number of electric cars on the road surpassed 3 million worldwide, an expansion of over 50% from 2016.

Moreover, development of new audio systems that offer 360-degree listening and increasing demand for self-driving cars that are incorporated with various systems based on Artificial Intelligence technology are also expected to boost the market growth. 360 degree speakers such as Harman Control 80 Series Landscape Loudspeakers provide excellent full-range sound quality and 360-degree coverage. This sound system block surrounding noise to deliver high-quality. Moreover, this premium audio system can be voice-controlled. Therefore, these factors are expected to propel growth of the automotive premium audio system market.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/automotive-premium-audio-system-market-2318

Key Trends and Analysis of the Global Automotive Premium Audio System Market:

  • The automotive premium audio system market in Europe is expected to witness significant growth over the forecast period. This is owing to increasing sales of passenger cars, especially in countries such as Germany and the U.K. For instance, according to OICA, in 2016, around 3,351,607 units of passenger cars were sold in Germany, which increased to 3,442,100 units in 2017.
  • Asia Pacific is expected to be the fastest growing market in the automotive premium audio system market over the forecast period. Increasing production of vehicles and high demand for electric vehicles in economies such as China and Japan are expected to drive growth of the market in Asia Pacific. According to the International Energy Agency’s Global EV Outlook, China led the electric vehicles market in 2016, accounting for sales of over 40% of the electric cars worldwide. Therefore, increasing sales of electric vehicles is expected to propel demand for automotive premium audio system, thereby boosting the market growth over the forecast period.
  • Major players operating in the global automotive premium audio system market include, Bose Corporation, Bowers & Wilkins, Harman International Industries, Inc., Klipsch Audio Technologies, Bang & Olufsen, Alpine Electronics, Inc., Sonos, Onkyo Corporation, Panasonic Automotive System, Blaupunkt GmbH, and QSC, LLC.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave, 
#3200 
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

Coherent Market Insights Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.